All articles by Verdict Staff
Verdict Staff
OCBC Group reports net profit for the year 2011
Oversea-Chinese Banking Corporation Limited (OCBC Bank) reported a net profit of S$2,312 million for the financial year ended 31 December 2011 (FY11), an increase of 3% from 2010. Core net profit, which excludes gains from the divestment of non-core assets, was S$2,280 million, up 1% from a year ago. Full year performance was underpinned by robust growth in the Groups customer-related businesses, as reflected by record net interest income and fee income, as well as healthy growth in insurance new business weighted premiums and new business embedded value.
Swiss government may force banks to make tax checks
Switzerland’s private banks, smarting under tax crackdowns in many countries, could be mandated to carry out checks on the tax status of foreign assets they hold, as part of the country’s new clean-money strategy.
Wells Fargo poaches financial advisors from rivals
Wells Fargo Advisors has hired nine financial advisers from Morgan Stanley Smith Barney and Merrill Lynch, apart from hiring a new manager from Raymond James.
Schwab launch new technology platforms for investment advisors
Charles Schwab has launched two platforms as part of the Schwab Intelligent Integration initiative, called Schwab OpenView Integrated Office and Schwab OpenView Gateway.
Interactive Advisory Software introduces new reporting tool
Interactive Advisory Software (IAS), a provider of web-based wealth management platform, has introduced Reports 360°, the new reporting tool within its Solution 360° technology.
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Former Merrill Lynch banker fined GBP350,000 for insider trading
The Financial Services Authority (FSA) has fined Andrew Osborne, the former managing director in Corporate Broking at Merrill Lynch International, for engaging in market abuse by improperly disclosing inside information ahead of a significant equity fundraising by Punch Taverns in June 2009.
BNP Paribas appoints new private banking head in Jersey
BNP Paribas has appointed Kaye Fontaine the new head of its private banking unit in Jersey.
Cetera launches new online solution to omprove advisor-client communication
Cetera, a provider of advisory services for financial professionals, has launched a new online marketing solution, Connect2Client, to help advisers to increase the frequency with which they contact clients.
Cetera launch online Connect2Client service to facilitate advisor-client communication
Cetera, a provider of advisory services for financial professionals has launched a new online marketing solution, Connect2Client that would help the busy advisers to increase the frequency with which they contact clients.